The Indonesia Stock Exchange temporarily suspended trading shares of PT Bank Neo Commerce Tbk (BBYB) and PT Yelooo Integra Datanet (YELO) on Thursday (25/2) trading.

"This action is carried out in the context of cooling down due to the significant increase in the cumulative price of BBYB and YELO shares," said Head of the IDX Transaction Supervision Division, Lidia M Panjaitan, in the IDX disclosure on Thursday (25/2).

Trading suspension of BBYB and YELO shares, including series I YELO-W warrants, is carried out on the regular market and the cash market to provide sufficient time for market players to consider carefully available information before making the investment decision in BBYB, YELO shares.

"Interested parties are expected to always pay attention to the disclosure of information conveyed by the company," he said.

On February 23, 2021, the Exchange monitored BBYB and YELO shares' movement due to unusual market activity (UMA).

Meanwhile, the corporate action that will be carried out by BBYB shortly is a limited public offering IV, which is a rights issue of up to 832,724 million shares with an exercise price of Rp300 per share. The company expects to get fresh funds of around Rp249,817 billion.

YELO also plans to issue shares through a rights issue by selling a maximum of 1.991 billion shares or 262% of the issued and fully paid capital in the company.